Stamp Duty Calculator NSW
DISCLAIMER: IMPORTANT INFORMATION ABOUT OUR STAMP DUTY CALCULATORS
The calculator on this website is offered for informational purposes only, serving to demonstrate possible scenarios. The results generated by the calculator are intended solely as a general guide and an estimation, founded upon the data you have supplied. It is essential to understand that reliance on the calculator for making legal or financial decisions is not advised.
The outcome provided by this tool is not a replacement for expert consultation and should not be interpreted as professional counsel. It is important to consider obtaining independent legal, financial, taxation, or other advice that pertains to your particular situation.
Broker Circle Pty Ltd exercises due diligence in the creation and maintenance of this calculator; nevertheless, we do not guarantee the accuracy or suitability of the information provided for your specific circumstances, nor do we suggest any specific course of action based on these calculations. The calculator is configured for purchasing owner-occupied homes only and its use is not intended for land purchases or investment properties. Be aware that additional fees and charges may apply.
Last updated: 5 August 2023. BrokerCircle's calculator reflects the updates for the 2023-2024 financial year.
Frequently asked questions
Everything you need to know about NSW stamp duty
How is stamp duty calculated in NSW?
Stamp duty in NSW is calculated on a sliding scale based on the property purchase price. Rates may differ depending on property type, if you're a first home buyer, the purchase price, and other factors. For primary residences, the rates as of 1 July 2023 are:
$0 to $16,000: $1.25 for every $100, with a minimum of $10
$16,000 to $35,000: $200 plus $1.50 for every $100 over $15,000
$35,000 to $93,000: $485 plus $1.75 for every $100 over $32,000
$93,000 to $351,000: $1,500 plus $3.50 for every $100 over $87,000
$351,000 to $1,168,000: $10,530 plus $4.50 for every $100 over $327,000
$1,168,000 to $3,505,000: $47,295 plus $5.50 for every $100 over $1,168,000
$3,505,000 and more: $175,830 plus $7.00 for every $100 over $3,505,000
This reflects premium rates for residential properties, assuming the property is not used for business. Stamp duty concessions or exemptions may be available for first home buyers.
Are there other mandatory upfront fees for buying a house?
Yes, other than stamp duty, mandatory upfront fees in NSW include transfer fees and mortgage registration fees. There are also non-government mandated fees such as conveyancing or building & pest reports.
What is the First Home Buyer Assistance Scheme?
The First Home Buyer Assistance Scheme (FHBAS) in NSW provides concessional stamp duty rates and exemptions. From 1 July 2023, the scheme is available for properties up to $1 million, but no longer for the First Home Buyer Choice on properties under $1.5 million. Eligibility requires:
- Being a first-time homebuyer.
- Purchasing a new or existing home, or vacant land to build a home (calculator applies only to homes, not land).
- Being an Australian citizen or permanent resident.
- Moving into the home within 12 months and living there for at least 6 months.
- For homes, the property must be less than $1 million.
- The applicant must be over 18 and never have used the FHBAS before.
Stamp duty is fully exempt for properties under $800,000 and concessional between $800,000 and $1 million. Applications require First Home Buyers Assistance scheme application form and Purchaser/Transferee Declaration form (individual).
How do I calculate land tax in NSW?
What if I pay below market value for the property?
In NSW, stamp duty is calculated on the higher of the property's sale price or its current market value.
What is Foreign Owner Surcharge in NSW?
As a property buyer in New South Wales (NSW), you may be subject to an additional charge known as the surcharge purchaser duty if you are considered a foreign buyer. This surcharge is 8% of the property value and is added on top of the standard stamp duty. However, you are not categorised as a foreign owner for this purpose if you are:
- An Australian citizen
- A permanent resident who has been in Australia for at least 200 days in the 12 months preceding the contract date
- A holder of a partner visa (subclass 309 or 820) and you meet the residence requirements
- An exempt permanent resident, which means you may not usually reside in Australia but you will live in the purchased property as your main residence for at least 200 days after the purchase and you are buying as an individual
- A citizen of New Zealand, Finland, Germany, or South Africa, and you are buying residential property as an individual (not through a trust)
Please be aware that as a foreign owner, there could be other charges you may incur in addition to the stamp duty surcharge.
Has the First Home Buyer Choice scheme in NSW been replaced with a different program?
The First Home Buyer Choice scheme, which offered an option between stamp duty and an annual property tax for first home buyers in NSW, was discontinued following legislation passed in May 2023. As a result, properties exchanged after July 1, 2023, are no longer eligible for this option. However, those who had already chosen this scheme are 'grandfathered' in, meaning they can continue to pay an annual property tax instead of stamp duty on their property.
This scheme was available to first home buyers purchasing a home worth up to $1.5 million or vacant land valued at $800,000 intended for home construction. Eligible buyers had to be Australian citizens or permanent residents, over the age of 18, and neither partner could have previously owned property or received first home buyer benefits. Buyers were required to occupy the home within 12 months of purchase and live there for a minimum of six months.
The new arrangement has expanded stamp duty concessions in place of the First Home Buyer Choice. For current details and to calculate property tax obligations, use the property tax tool provided by the NSW Government.
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